New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-05-23

The exchanges AT the New York Clearing House tor
last week reflected active general movement They
we're $40 900 900 greater than the preceding week.
1872 900 900 than the corresponding week OF
OF 1878 and only small portion OF any OF the gains
be attributed TO larger operations at the SocA Ia
change.
The bank exchanges at the New York Clearing House
and the stocks sold at the Ncw-IOrk STOCK Exchange Tor
Week ending MAY 49, 1855 ~ 1886; May q; 1881
kdes hare. SooiiI5i "SS5Sssa
The local money market presented no special or iei-
esng feature IL ruled generally at 4l2a5 per cent Tor
call loans hut late in the week the rates seemed TO DO
tending toward ease and fair quotation was from 10
per cent This was somewhat remarkable as under
the new rule all loans made III tne stock iNchinse on
Friday run 10 Monday ana the effect was TO Withhold
which bankers could not be certain would he drawn
against on Saturday Yet the market on Friday was
Yesterday extreme ease rates unquestionahly
due TO the offerings OF some of the amounts withheld on
mand Prime mercantile paper passed reali-
all e wss though s Sens against Ss%
York and these only slightly at Chicago ana Boston.
at unchanged rates the closing basis OF "a s5l
and "a 81 respectively for long and short sterling
The question OF Treasury absorption OF Is again
being agated and some OF our Contemporaries have ex
3per ceus money must rapidly accumulate mn vaults
Of the Treasury 10 the detrinent or commercial and mer
camille Interests IL to be forgotten that although
July during the twelve months $l44 100000 of 3
per cents will have maured the Treasury still holds over
Of National bank notes. security for which
covered by the retirement OF per cents Now these
worn and unfit for service aud that process
the presentation OF them for redemption Will rapidly In
Further Is TO be noted that there Is con
tinued moderate Increase In bank circulation OF newly
formed banks. and last week we have already noted
the deposits OF bonds for security exceeded the with
drawals by $03.000 but the logic OF the exchanges In
dictates that the deposits for circulation exceeded
$50J000 Furthermore, II Is worthy or note thai there
has recently been steady increase IN the deposit OF bombs
10 Government deposits In National banks, uht
such deposits amount 10 over $23OOO0O0 against
less that 3D. 900 at the beginning OF tho year As
money commands better rates. the banks can Afford 10
paw higher pricesfor Government bonds while at tho
same time the higher rates for money depreclae the
price OF the bonds There is little question that II money
had continued this date TO rule at 2d2 per ccntas
did In 1885 Government Is would now be c0mnan mig
something over 140 Thus 1t Is that legitimate enter
prises when backed by growing prosperity, pro-
vide their own methods despite bad legislation.
The general trade reports for the week marx improve
ments on the movements OF the preceding week.
and considering the lateness OF the season arc
more than satisfactory Second AMI third orders
from the interior for staple and desirable goods are more
than usually numerous and prices usually present nr
t0ne e export OF for the week again makes an
nnfayorable comparison with that OF the preceding year
but that because OF the unusually large snlpnents
early in the season. which give an excess of
for the period from September TO date over tue exports
of the Same time Of the preceding year Despe se
small exports the demand Is such that inr M
established during the week ana now oens
Is the price OF Miding Uplands against w cent? ~
this date year The speculation III wnees s"''n'a